DEAL CLOSE: Commercial Property Tax Reform

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DEAL CLOSE: Commercial Property Tax Reform

The leaders of the Iowa House and Senate both say an historic commercial property tax reform bill will get finished this session.

“I’m more confident than I’ve ever been in 30 years that we can get something done on commercial property taxes in this state so I think that’s a sign that both sides are setting aside some of the pieces of things that are dividing us,” says Senate Majority Leader Michael Gronstal.

Iowa House Speaker Kraig Paulsen says, “There is greater interest in trying to work together, I see fewer ultimatums. I think people are trying to work towards solutions.”

Both Gronstal and Paulsen say ideas from each other’s bills will be included in the final form. Democrats want to focus on tax breaks targeted at small businesses. Republicans want a broad, across the board cut for all businesses.

Gronstal credits the progress to both sides relaxing their rhetoric.

“If things are as bad as the Republicans in the Senate describe them, why would nationally renowned companies be expanding their operations inside the state of Iowa?”

Paulsen says Republicans still insist on caps on residential property taxes. That would keep local authorities from shifting the tax burden from businesses to homeowners.